Comcast (NASDAQ: CMCSAOn Thursday, the stock was expected to snap a 12-session losing streak, with shares rising 1.5% to $37.49 in afternoon trading.
The Philadelphia-based media giant has fallen about 7% over the past 12 trading days. The stock has fallen nearly The index is up 16% so far this year, while the S&P 500 is up more than 15%.
CMCSA has fallen 5% in the past month. The stock closed down 1.1% at $36.90 on Wednesday.
Judging from Seeking Alpha’s quantitative rating, CMCSA’s buy rating is 4.36 points (out of 5 points).
Turning to the Wall Street community, 15 analysts give CMCSA a Buy rating or above. 13 analysts have given the stock a Hold recommendation, while one analyst recommends a Sell.
Seeking Alpha analysts are also bullish on the stock and think it’s a buy.
Comcast reported results in April that beat analysts’ expectations.
A recent analysis from Seeking Alpha noted that Comcast could see continued strength in its theme parks and its movie studios due to election-year spending, while its NBC unit could see strong results in 2024 .
However, another Seeking Alpha analyst Max Greve said, “Comcast is a strange combination of media outperformance, connectivity growth potential and huge sports tail risk.”
Last month, Comcast CEO Brian Roberts said the company was launching a new cable-like streaming bundle that would include Peacock, Netflix and Apple TV at a “lower price than anything on the market today.” Any product is significantly reduced”.
